Key Points
- Insider sale: Emory Mayfield Jr. sold 4,990 Hancock Whitney shares for $381,236 at an average price of $76.40, reducing his direct ownership by 24.28% to 15,565 shares.
- Financial performance: Hancock Whitney reported quarterly EPS of $1.55, in line with estimates, while revenue of $403.57 million exceeded expectations and rose 6.9% year over year.
- Dividend and outlook: The company declared a quarterly dividend of $0.50 per share, representing a 2.7% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $83.78.
Hancock Whitney Corporation (NASDAQ:HWC - Get Free Report) insider Emory Mayfield, Jr. sold 4,990 shares of Hancock Whitney stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $76.40, for a total transaction of $381,236.00. Following the transaction, the insider directly owned 15,565 shares of the company's stock, valued at approximately $1,189,166. This trade represents a 24.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.
Hancock Whitney Price Performance
NASDAQ:HWC opened at $75.38 on Friday. The company has a market cap of $6.05 billion, a P/E ratio of 14.78 and a beta of 0.95. The firm's fifty day moving average price is $75.69 and its two-hundred day moving average price is $70.15. Hancock Whitney Corporation has a one year low of $54.05 and a one year high of $80.13. The company has a debt-to-equity ratio of 0.04, a current ratio of 0.82 and a quick ratio of 0.82.
Hancock Whitney (NASDAQ:HWC - Get Free Report) last posted its earnings results on Tuesday, July 21st. The company reported $1.55 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $1.55. The company had revenue of $403.57 million during the quarter, compared to analysts' expectations of $398.89 million. Hancock Whitney had a net margin of 21.81% and a return on equity of 11.36%. Hancock Whitney's quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.37 EPS. Equities analysts expect that Hancock Whitney Corporation will post 6.44 earnings per share for the current year.
Hancock Whitney Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, September 4th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, September 4th. This represents a $2.00 annualized dividend and a yield of 2.7%. Hancock Whitney's dividend payout ratio (DPR) is 39.22%.
Hedge Funds Weigh In On Hancock Whitney
Hedge funds have recently added to or reduced their stakes in the stock. Amundi bought a new stake in Hancock Whitney during the first quarter worth about $50,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Hancock Whitney by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 51,664 shares of the company's stock valued at $2,710,000 after buying an additional 2,255 shares during the period. NewEdge Advisors LLC raised its position in shares of Hancock Whitney by 22.9% in the 1st quarter. NewEdge Advisors LLC now owns 3,755 shares of the company's stock valued at $197,000 after buying an additional 700 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Hancock Whitney by 4.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 287,471 shares of the company's stock valued at $15,078,000 after buying an additional 11,551 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Hancock Whitney by 951.9% during the 1st quarter. Jane Street Group LLC now owns 123,812 shares of the company's stock worth $6,494,000 after acquiring an additional 112,042 shares during the period. Institutional investors own 81.22% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on HWC. Barclays upped their target price on Hancock Whitney from $80.00 to $82.00 and gave the company an "overweight" rating in a research report on Monday, August 3rd. Zacks Research lowered Hancock Whitney from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 29th. Raymond James Financial reiterated a "strong-buy" rating and set a $87.00 price objective on shares of Hancock Whitney in a research report on Wednesday, July 22nd. Citigroup reissued a "buy" rating on shares of Hancock Whitney in a report on Thursday, July 23rd. Finally, Hovde Group cut shares of Hancock Whitney from an "outperform" rating to a "market perform" rating and set a $74.00 target price for the company. in a research report on Friday, June 12th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat.com, Hancock Whitney presently has an average rating of "Moderate Buy" and an average target price of $83.78.
View Our Latest Analysis on Hancock Whitney
Hancock Whitney Company Profile
(
Get Free Report)
Hancock Whitney Corporation (NASDAQ: HWC) is a regional financial services company headquartered in Gulfport, Mississippi. The firm was established in April 2019 through the merger of Hancock Holding Company and Whitney Holding Corporation, each of which traced its roots to the late 19th century. This combination created one of the largest bank holding companies in the Gulf South region, with a network of branches serving both urban and rural communities.
The company's core business activities include commercial banking, retail banking and wealth management services.
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